New Click here to Enroll in NaBFID Analyst Intro Class on May 6

    Question

    A man sells an article at a certain price incurring 20%

    loss. If he had sold the same article for Rs. 20 more he would have earned 20% profit. What was the cost price of the said article?
    A 20 Correct Answer Incorrect Answer
    B 40 Correct Answer Incorrect Answer
    C 50 Correct Answer Incorrect Answer
    D 60 Correct Answer Incorrect Answer

    Solution

    ATQ, we can say that Let the cost price of article be 100x  When sold at loss  SP = 100x - (20/100) × 100x = 80x When sold at profit SP = 100x + (20/100) × 100x = 120x According to the question, 120x - 80x = 20 ⇒ 40x = 20 ⇒ x = 0.5 ⇒ 100x = 50   ∴ Cost price of article is Rs. 50

    Practice Next

    Relevant for Exams: